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Source: U.S. Bureau of Economic Analysis, Regional Economic Information System. Updated annually. http://www.bea.gov/bea/regional/reis/
Definitions:
Personal income is defined as the income that is received by persons from participation in production, from both government and business transfer payments, and from government interest (which is treated like a transfer payment). It is calculated as the sum of wage and salary disbursements, other labor income, proprietors'' income with inventory valuation and capital consumption adjustments, rental income of persons with capital consumption adjustment, personal dividend income, personal interest income, and transfer payments to persons, less personal contributions for social insurance.
The personal income of an area is the income that is received by, or on behalf of, all the individuals who live in the area; therefore, the estimates of personal income are presented by the place of residence of the income recipients.
Persons consists of individuals and quasi-individuals that serve individuals or that act on behalf of individuals. Quasi-individuals consists of nonprofit institutions that primarily serve individuals, private noninsured welfare funds, and private trust funds.
Per capita personal income shown in this table is calculated as the personal income of the residents of an area divided by the population of that area as of July 1 for the reference year.
Scope and Methodology:
BEA publishes total employment and total wage and salary disbursements as part of its local area estimates of personal income, a measure of the local area economies; the estimates are derived in part from the BLS data, which account for 94 percent of the wage and salary component of the personal income estimates.
The BEA employment and wage estimates differ from the BLS data because BEA adjusts the estimates to account for employment and wages not covered, or not fully covered, by the State UI and UCFE programs. First, additional source data are used to estimate most, or all, of the employment and wages for the following: Farms, farm labor contractors, private households, private elementary and secondary schools, religious membership organizations, railroads, military, and U.S. residents who are employed by international organizations and by foreign embassies and consulates in the United States. Second, employment and wage estimates are added to the BLS data to bridge small gaps in UI coverage for nonprofit organizations not participating in the UI program (several industries), for students and their spouses employed by colleges or universities (private education and State and local government), for elected officials and members of the judiciary (State and local government), for interns employed by hospitals and by social service agencies, and for insurance agents classified as statutory employees (insurance agencies). Third, the employment and wage data are adjusted for misreporting under the UI and UCFE programs.
More Information: